THE OPEN

Market futures before the open were fairly flat with not much of a direction. As soon as the markets opened- boom - higher right out of the gate on the heels of what appears to be a terrific demand for equities and especially equities on the NAZ.

The DJIA and the SPX are certaintly lagging the "tech heavy" NAZ of late and this moring is no different as the NAZ is higher by about .75% while the DJIA and the SPX are up by about .25%. The small caps are also lagging the NAZ, up by a mere .4%.

Market internals show +600 on the NYSE and +700 on the NAZ.

Sector winners include brokers, semis, tech, airlines, internets, retail, trannies and drugs. To the downside are metals, oils and consumers.

The DJIA finds 22 higher and 8 lower with GM INTC VZ and PFE leading while MCD AA DIS and XOM trail.

Fixed income is getting hit and my guess is its asset allocators selling bonds and buying equities. The 4.62% interest rate doesn't seem so great when equities seem to go up every day.